TORONTO - Tim Leiweke was adamant Kyle Lowry would be back, Masai Ujiri was confident too and they were not wrong.

The Raptors reached a verbal agreement with the star point guard late Wednesday evening, sources confirmed to the Sun. Yahoo! Sports first reported the deal would be four years, $48 million U.S., with Lowry having the option to opt out before the final year.

Lowry put a picture of himself on Instagram wearing a throwback purple, No. 15 Raptors jersey, with the caption: “This ain't Amir jersey y'all!! Lol..... it's for the 2014-15 season cause Toronto will be my home city."

The agreement was the biggest piece of Raptors business in years and a crucial moment for a franchise that has seen stars like Vince Carter, Tracy McGrady and Chris Bosh eventually engineer exits.

Lowry, 28, averaged 17.9 points, 7.4 assists and 4.7 rebounds per game this past season in an all-star caliber campaign and led the Raptors, along with close friend DeMar DeRozan, to a seven-game series loss against the Brooklyn Nets.